Mahindra & Mahindra rises as its arm enters into strategic partnership with Ecofy
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Mahindra & Mahindra is currently trading at Rs. 2874.40, up by 25.00 points or 0.88% from its previous closing of Rs. 2849.40 on the BSE.
The scrip opened at Rs. 2874.75 and has touched a high and low of Rs. 2895.15 and Rs. 2836.50 respectively. So far 10450 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 3013.95 on 18-Jun-2024 and a 52 week low of Rs. 1418.55 on 04-Aug-2023.
Last one week high and low of the scrip stood at Rs. 2922.20 and Rs. 2836.50 respectively. The current market cap of the company is Rs. 358838.90 crore.
The promoters holding in the company stood at 18.59%, while Institutions and Non-Institutions held 67.94% and 13.46% respectively.
Mahindra & Mahindra’s subsidiary -- Mahindra Last Mile Mobility (MLMML) has entered into strategic partnership with Ecofy, India’s green-only NBFC backed by Eversource Capital, committed to financing India’s green transition.
The partnership is expected to boost the adoption of electric three-wheelers (EV 3W) in India. MLMML is India’s No.1 electric three-wheeler manufacturer and offers the widest range of electric three-wheelers. The collaboration aims to provide impetus to the growing EV 3W demand by combining Mahindra's expertise in electric vehicle manufacturing with Ecofy's innovative financing solutions.
Mahindra & Mahindra is the flagship company of the Mahindra Group, a multinational conglomerate based in Mumbai, India. Amongst the various business interests of its parent group, the company is mainly involved in the automobile manufacturing. It is one of the leading auto companies of India.
